One of the most interesting asset classes where we see the very pronounced influence of behavioral biases is in real estate. Why is real estate such a ripe area for behavioral biases? Real estate is a highly emotive asset in most cultures. This can help explain phases of ‘irrational exuberance’ in property markets where prices move away from fundamentals.
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Sales Stats for January 1 – July 1, 2019
Puerto Vallarta Real Estate Market UpdateCONDOMINUMS continue to be the most popular real estate product, as far as FBS MLS stats go. Our reports can show us prior year comparisons to show us in relation to last year or other years, how have we done so far, this first half of 2019. Emiliano Zapata Most Popular Area. Again, the highest US dollar volume of sales is Zona Romantica, or Emiliano Zapata, on the south side of the Rio Cuale. Estimates indicate there are another 500 preconstruction units approved, in addition to what we see already being built.
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Sales Statistics For 2018 Compared To 2017
Real Estate Sales Statistics for 2018Total for land sales reported of $12,529,767 USD, -14% down from prior year. There were 41 sold transactions with an average sale of $303,804 USD. Sales were an average of 89% off list. Total inventory was 429 lots.
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Influence of Behavioural Bias
The Irrational and Emotional in Real Estate MarketsNick Armet writes about investments for a UK firm. He has interesting views on our emotional connection to real estate. Here are some: The asset class of real estate demonstrates a pronounced influence of behavioral bias. Real estate is a highly emotive asset in most cultures. This can help explain phases of ‘irrational exuberance’ in property markets where prices move away from fundamentals.
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Harriet Murray
Owner / Agent
Email: harriet@casasandvillas.com
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